Ropes & Gray Advised Hooters of America on Chapter 11 Bankruptcy Filing

Ropes & Gray Advised Hooters of America on Chapter 11 Bankruptcy Filing

Ropes & Gray is representing iconic casual dining and sports entertainment chain, Hooters of America, LLC, in connection with its chapter 11 cases, titled In re Hooters of America, LLC pending in the United States Bankruptcy Court for the Northern District of Texas. On March 31, the chapter 11 filing was announced in a press release.

The dealings involve restructuring of around $380 million in funded debt. These chapter 11 cases were started by the company with a Restructuring Support Agreement with unanimous support almost from its major stakeholders, providing for $40 million in debtor-in-possession financing from some of its existing lenders and $35 million in new capital.

The Ropes & Gray legal team includes business restructuring partners Chris Dickerson and Ryan Preston Dahl, finance partner Patricia Lynch and counsel Brett Pearlman, and business restructuring associate Rahmon Brown.

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